The EURJPY failed to continue the bullish momentum on Friday, closed back below 102.48 but overall we had a bullish condition last week. There were some upside pressure earlier today hit 102.91. The bias is neutral in nearest term but overall price is still in a bullish phase since the bounced from 97.02 with nearest bullish target around 103.85. On the downside, another movement back below 102.48 could trigger further bearish pullback testing 102.00 – 101.50 but as long as stays above 100.74 and the trend line support (see my h4 chart below) I still prefer a bullish intraday scenario at this phase.
The GBPJPY continued its bullish momentum last week, topped at 123.15 but closed a little bit lower on Friday at 122.25. The bias is neutral in nearest term. Remember what I said before that 123.20 area is the 200-daily-EMA which so far still provide good resistance, but overall I still prefer a bullish intraday scenario at this phase as a part of the bullish phase since the breakout above the trend line resistance as you can see on my daily chart below. A clear break and daily close above 123.20 could trigger further bullish scenario testing 125.50. Immediate support is seen around 122.00 followed by 121.50. I don’t expect any movement below 121.50 today as it could postpone the bullish scenario.
The AUDUSD was volatile but indecisive last week. The bias is neutral in nearest term but as long as moves above the trend line support and 1.0600 support area as you can see on my h4 chart below my overall intraday outlook remains to the upside with nearest bullish target around 1.0850 – 1.0900. Immediate support is seen around 1.0700 followed by 1.0650.
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